Why Snowflake Stock Rallied on Thursday

Shares of Snowflake (SNOW 4.35%) traded higher on Thursday, jumping as much as 5.3%. By the time the market closed, the stock was still up 4.4%.The catalyst that sent the cloud stock higher was bullish commentary from a couple of Wall Street analysts.SNOW piling up in the forecastFirst out of the gate on Thursday were analysts at Bank of America ahead of Snowflake's fiscal 2024 fourth-quarter results, which are scheduled to be released on Feb. 28. BofA maintained a neutral (hold) rating on the stock but rai ...